The Dangers of Distraction for REIs

>Four-minute read

>What’s a marshmallow got to do with it?

>Plan, Focus and Execute

>Have you got the time?

>Don’t bite

>Just one thing

Apparently, there's some news happening around us these days.

I often use this space to send you detailed information about tax code updates, leadership and marketing strategy, expense reduction, and other essential topics for business owners and their teams.

I would also like to speak directly if you haven't already noticed.

That's why I'm steering clear of politics here and speaking to you, one business owner to another.

Frankly, I'm a firm believer in fighting against the temptation of procrastination and distraction, which so many of us can fall prey to.

While typing this blog, my loving spouse brought me a pastry. Sheesh! I put it into the hall closet. I’ll get a cup of ‘joe’ after I finish the rewrite and have it then. BTW, how does that pastry know my name?!?! I hear it calling…

And there's a special kind of procrastination that business owners and leaders particularly need to keep at bay...

And let's get ahead of the game while we still can.)

WHAT’S A MARSHMALLOW GOT TO DO WITH IT?

There's a famous study, often referenced in productivity/success books and podcasts, that you probably have heard about in some form or another:

From my Psychology 101 class: "The Marshmallow Test," showed the importance of impulse control and delayed gratification for academic, emotional, and social success. The researcher was Walter Michel, PhD.

Back in the 'sixties,' at the preschool on the Stanford University campus, Mischel put marshmallows in front of a group of 4-year-olds. He told them they could have one marshmallow now, but if they could wait several minutes, they could have two. Some children grabbed a marshmallow and 'snarfed' it down. Others waited, some even covering their eyes to block their view of the treat-so near. Apparently, licking and replacing the uneaten marshmallow was tolerated. Check out Diane Rehm's video!

Mischel followed the group and found that, 14 years later, the 'grabbers' suffered low self-esteem and were viewed by others as stubborn, prone to envy, and easily frustrated. The 'waiters' were better copers, more socially competent and self-assertive, trustworthy, dependable, and academically successful. This group even scored about 210 points higher on their SATs. From Psychology 306, Tests and Measurements, I learned, there were huge holes in the research design and statistics…but…

Fascinating study. So, what does this have to do with you this election week?

PLAN, FOCUS, AND EXECUTE

The work of a business owner is about planning, focus, and execution (and later ... harvesting) vs. chasing the fad of the week (the election aftermath, etc.), getting distracted, and wasting time—time you can't ever get back.

How often did you use social media today to gawk at political train wrecks? How much of your headspace is currently taken up with national concerns -- if your primary focus is your business and family?

But even in your business: How many 'get-rich-yesterday-guru' emails did YOU get today? How many 'pressing' client/staff questions did you manage rather than focusing on revenue-generating tasks for your business? How much time do they waste? How many squirrels can you chase at one time?

Now, more than ever: Plan, focus, execute and harvest.

HAVE YOU GOT THE TIME?

Be ruthless about your time. Don't let the 'guru-of-the-week' waste it by trying to convince you there's a golden goose; only they know where it is. Real experts produce results for themselves, AND help multitudes of others do the same.

The 'guru-of-the-week' produces results for the 'guru-of-the-week' and his insider buddies.

DON'T BITE

The political concerns of the hour *are important*. But unless they are of specific relevance to your BUSINESS and there is anything you can and should do about it right now, chances are very good that they are taking up too much of your 'mind-space.'

Separately, chances are also very good that you're executing tasks that could be easily handled by a $17/hr employee (or $10/hr even), keeping you from pursuing what only you, the owner, should care most about: growing profit.

There is the tyranny of the urgent, the noisy, and the small. Fight against it.

JUST ONE THING

Instead, Do at least one thing today to get or keep a customer. That's your most important task.

BE THE ROAR not the echo®

Warmly, Janet

P.S.: I finished the rewrite-YUM